U.S. Financials Income Fund
TSX : USF.UN

U.S. Financials Income Fund

August 21, 2015 16:03 ET

U.S. Financials Income Fund Announces Semi-Annual Results

TORONTO, ONTARIO--(Marketwired - Aug. 21, 2015) - U.S. Financials Income Fund (the "Fund") (TSX:USF.UN) announces results of operations for the period ended June 30, 2015. Decrease (increase) in net assets attributable to holders of Class A units (Class U units) amounted to C$0.04 per Class A unit (C$0.01 per Class U unit). Net assets attributable to holders of Class A units (Class U Units) as at June 30, 2015 were C$31.0 million (US$3.6 million) or C$9.11 per Class A unit (US$9.24 per Class U unit). Cash distributions of C$0.18 per Class A unit and US$0.18 per Class U unit were paid during the period.

The Fund's investment objectives are (i) to provide Unitholders with quarterly cash distributions; and (ii) to maximize total return through capital appreciation and distributions.

The Fund seeks to achieve its investment objectives by investing in an actively managed portfolio consisting primarily of equity securities of U.S. financial issuers selected from the S&P 500 Index that are classified as "Financials" by Standard & Poor's Global Industry Classification Standard and which have a market capitalization of at least US$10 billion and a credit rating issued by Standard & Poor's Rating Services of at least A- at the time of purchase and U.S. publicly listed alternative asset management issuers which have a market capitalization of at least US$5 billion at the time of purchase.

To generate additional income above the distributions earned on its equity securities, the Fund will from time to time write covered call options in respect of all or a portion of the securities in its portfolio.

The Fund's investment portfolio is managed by its investment manager, Strathbridge Asset Management Inc. The Class A units are listed on the Toronto Stock Exchange under the ticker symbol USF.UN and the Class U units do not trade on an exchange.

Selected Financial Information: ($ Millions)
Statement of Comprehensive Income
for the period from February 20, 2015 to June 30, 2015 (Unaudited)
Income (including Net Gain on Investments) C$0.3
Expenses (0.4 )
Decrease in Net Assets Attributable to Holders of Class A and Class U Units C$(0.1 )

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Contact Information

  • Strathbridge Asset Management Inc.
    Aaron Ho
    Vice-President, Finance
    416.681.3966; 1.800.725.7172

    Strathbridge Asset Management Inc.
    121 King Street West, Suite 2600
    Toronto, Ontario, M5H 3T9
    416.681.3966; 1.800.725.7172
    info@strathbridge.com
    www.strathbridge.com